XML 46 R22.htm IDEA: XBRL DOCUMENT v2.4.0.6
SEGMENT REPORTING
 9 Months Ended
Mar. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]

NOTE 16 - SEGMENT REPORTING

 

The Company was organized into four main business segments based on location and product: Jinong (fertilizer production), Gufeng (fertilizer production), Jintai (agricultural products production) and Yuxing (agricultural products production). Each of the four operating segments referenced above has separate and distinct general ledgers. The chief operating decision maker (“CODM”) receives financial information, including revenue, gross margin, operating income and net income produced from the various general ledger systems to make decisions about allocating resources and assessing performance; however, the principal measure of segment profitability or loss used by the CODM is net income by segment. Jintai is in the process of combining with Yuxing.

  

The following tables present a summary of our businesses and operating segments results. 

 

    Three months ended March 31,  
    2013     2012  
Revenues from unaffiliated customers:                
Jinong   $ 27,051,929     $ 22,311,668  
Gufeng     37,690,762       34,095,432  
Jintai     -       2,466,393  
Yuxing     1,129,842       1,142,851  
Consolidated   $ 65,872,533     $ 60,016,344  
                 
Operating income :                
Jinong   $ 11,406,985     $ 10,975,095  
Gufeng     5,642,544       5,780,062  
Jintai     -       (212,967 )
Yuxing     171,500       (97,907 )
Reconciling item (1)     -       -  
Reconciling item (2)     (256,110 )     (452,580 )
Reconciling item (2)—stock compensation     (440,508 )     (129,695 )
Consolidated   $ 16,524,411     $ 15,862,008  
                 
Net income:                
Jinong   $ 9,756,153     $ 9,400,856  
Gufeng     4,178,836       3,865,515  
Jintai     -       (212,905 )
Yuxing     172,275       (96,848 )
Reconciling item (1)     13       18  
Reconciling item (2)     (696,618 )     (582,275 )
Consolidated   $ 13,410,659     $ 12,374,361  
                 
Depreciation and Amortization:                
Jinong   $ 1,990,178     $ 592,031  
Gufeng     1,709,328       816,584  
Jintai     -       (1,008 )
Yuxing     316,700       276,555  
Consolidated   $ 4,016,206     $ 1,684,162  
                 
Interest expense:                
Jinong   $ -     $ -  
Gufeng     298,455       554,325  
Reconciling item (2)     -       -  
Consolidated   $ 298,455     $ 554,325  
                 
Capital Expenditure:                
Jinong   $ 6,275,253     $ 1,880,430  
Gufeng     31,271       (14,946 )
Jintai     -       (3,423 )
Yuxing     (134,467 )     8,012  
Consolidated   $ 6,172,057     $ 1,870,073  

 

(1) Reconciling amounts refer to the unallocated assets or expenses of Green New Jersey.

(2) Reconciling amounts refer to the unallocated assets or expenses of the Parent Company.

  

    Nine months ended March 31,  
    2013     2012  
Revenues from unaffiliated customers:                
Jinong   $ 77,857,756     $ 63,543,075  
Gufeng     66,612,586       89,666,961  
Jintai     -       5,780,969  
Yuxing     2,645,923       1,221,930  
Consolidated   $ 147,116,265     $ 160,212,935  
                 
Operating income :                
Jinong   $ 31,418,916     $ 32,421,375  
Gufeng     8,821,041       12,062,444  
Jintai     -       (1,457,900 )
Yuxing     260,155       (338,365 )
Reconciling item (1)     -       -  
Reconciling item (2)     (738,343 )     (2,210,290 )
Reconciling item (2)—stock compensation     (2,315,036 )     (1,139,938 )
Consolidated   $ 37,446,733     $ 39,337,326  
                 
Net income:                
Jinong   $ 26,893,779     $ 27,758,554  
Gufeng     5,848,880       8,055,846  
Jintai     57       (1,457,704 )
Yuxing     823,911       (156,914 )
Reconciling item (1)     139       321  
Reconciling item (2)     (3,053,379 )     (3,350,228 )
Consolidated   $ 30,513,387     $ 30,849,875  
                 
Depreciation and Amortization:                
Jinong   $ 6,449,763     $ 1,756,742  
Gufeng     2,634,409       2,462,687  
Jintai     -       (440 )
Yuxing     946,263       476,491  
Consolidated   $ 10,030,435     $ 4,695,480  
                 
Interest expense:                
Jinong   $ -     $ -  
Gufeng     1,050,694       1,110,672  
Reconciling item (2)     -       -  
Consolidated   $ 1,050,694     $ 1,110,672  
                 
Capital Expenditure:                
Jinong   $ 15,601,870     $ 5,589,432  
Gufeng     (876,682 )     (14,946 )
Jintai     -       (3,423 )
Yuxing     102,424       139,467  
Consolidated   $ 14,827,612     $ 5,710,530  

  

    As of     As of  
    March 31, 2013     June 30, 2012  
Identifiable assets:                
Jinong   $ 181,535,571     $ 221,575,406  
Gufeng     104,482,467       57,657,305  
Jintai     4,573,427       6,670,058  
Yuxing     38,028,176       1,851,745  
Reconciling item (1)     79,213       280,445  
Reconciling item (2)     (3,906 )     (3,906 )
Consolidated   $ 328,694,948     $ 288,031,053  

 

(1) Reconciling amounts refer to the unallocated assets or expenses of Green New Jersey.

(2) Reconciling amounts refer to the unallocated assets or expenses of the Parent Company.